Chennai:
Federation of Indian Chambers of Commerce and Industry
Tamil Nadu State Council hailed the budget as “proactive, balanced and people-friendly.
The budget
has a flurry of announcements in tune with the VISION 2023 unveiled by the Chief
Minister J Jayalalithaa recently. The fiscal deficit will be Rs 19,832.13
crore, which would constitute 2.87 per cent of the GSDP with reduction of
borrowings since this is going to set tune for aggressive growth in the coming
years, FICCI said.
The idea
to form the “Tamil Nadu Infrastructure Development Board” (TIDB) with the chief
minister as the chairperson to commence implementation of the new projects and
Rs 1,000 crore allocated to TIDB is commendable and will boost Tamil Nadu’s
GSDP, FICCI added.
The
allocation of Rs14,552.82 crore for the School Education Department in tandem
with the creation of a Special Purpose Vehicle for Tamil Nadu Skills
Development Mission will ensure that the further impetus is created in the
coming years so that Tamil Nadu continues to showcase availability of skilled manpower
as a unique selling proposition when compared to other states in India.
The budget
revealed that manufacturing sector in Tamil Nadu is set to once again become
the major driver in the creation of employment and to trigger growth in the service
sector, FICCI said.
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